Credit Suisse Group Reaffirms Buy Rating for Gilead Sciences (GILD)
Gilead Sciences (NASDAQ:GILD)‘s stock had its “buy” rating reissued by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Thursday. They currently have a $82.00 price target on the biopharmaceutical company’s stock. Credit Suisse Group’s price target suggests a potential upside of 12.76% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Leerink Swann upped their target price on shares of Gilead Sciences from $84.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, October 19th. BidaskClub downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Berenberg Bank restated a “buy” rating and set a $86.00 price objective (up from $79.00) on shares of Gilead Sciences in a research note on Sunday, August 20th. TheStreet upgraded shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Finally, Maxim Group restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $85.11.
Shares of Gilead Sciences (GILD) traded down $0.57 during midday trading on Thursday, reaching $72.72. 5,584,081 shares of the company were exchanged, compared to its average volume of 9,215,772. The firm has a market cap of $95,736.46, a price-to-earnings ratio of 7.65, a PEG ratio of -1.23 and a beta of 1.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.56 and a current ratio of 3.68. Gilead Sciences has a 12-month low of $63.76 and a 12-month high of $86.27.
In other news, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $82.56, for a total value of $6,054,372.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John F. Milligan sold 220,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $72.88, for a total transaction of $16,033,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 494,999 shares of company stock worth $37,404,139. 1.30% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $997,048,000. Agran Libbie boosted its position in shares of Gilead Sciences by 10,050.3% during the 4th quarter. Agran Libbie now owns 9,001,584 shares of the biopharmaceutical company’s stock worth $9,109,000 after acquiring an additional 8,912,901 shares in the last quarter. Capital International Investors boosted its position in shares of Gilead Sciences by 86.6% during the 3rd quarter. Capital International Investors now owns 11,217,015 shares of the biopharmaceutical company’s stock worth $908,803,000 after acquiring an additional 5,205,983 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $427,750,000. Finally, Sanders Capital LLC acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth approximately $427,585,000. 76.23% of the stock is currently owned by hedge funds and other institutional investors.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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